Banco de América Central

Last updated
BAC Credomatic
Private
Industry
Founded Managua, Nicaragua (1952 (1952))
Headquarters
San José
,
Costa Rica
Products
Parent Grupo Aval
Website https://www.baccredomatic.com/

BAC Credomatic is a financial group in Central America, with operations in Guatemala, El Salvador, Honduras, Nicaragua (where it was founded and former headquarters in the city of Managua), Costa Rica (current headquarters), Grand Cayman and Panama.

Central America central geographic region of the Americas

Central America is a region found in the southern tip of North America and is sometimes defined as a subcontinent of the Americas. This region is bordered by Mexico to the north, Colombia to the southeast, the Caribbean Sea to the east and the Pacific Ocean to the west and south. Central America consists of seven countries: Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama. The combined population of Central America is estimated to be between 41,739,000 and 42,688,190.

Guatemala Republic in Central America

Guatemala, officially the Republic of Guatemala, is a country in Central America bordered by Mexico to the north and west, Belize and the Caribbean to the northeast, Honduras to the east, El Salvador to the southeast and the Pacific Ocean to the south. With an estimated population of around 16.6 million, it is the most populated country in Central America. Guatemala is a representative democracy; its capital and largest city is Nueva Guatemala de la Asunción, also known as Guatemala City.

El Salvador Country in Central America

El Salvador, officially the Republic of El Salvador, is the smallest and the most densely populated country in Central America. It is bordered on the northeast by Honduras, on the northwest by Guatemala, and on the south by the Pacific Ocean. El Salvador's capital and largest city is San Salvador. As of 2016, the country had a population of approximately 6.34 million.

Contents

History

Main BAC building in Managua, 2007 Banco de America Central, Managua.jpg
Main BAC building in Managua, 2007

Founded in 1952 in Managua as Banco de América Central, BAC was the forerunner of what is now known as the BAC Credomatic Group (Spanish: Grupo BAC Credomatic). By the seventies, the bank ventured into the business of credit cards using the Credomatic brand.

Spanish or Castilian, is a Romance language that originated in the Iberian Peninsula and today has over 450 million native speakers in Spain and the Americas. It is a global language and the world's second-most spoken native language, after Mandarin Chinese.

In the mid eighties, the Group decided to enter other markets in the region, starting in Costa Rica with the acquisition of what is now known as Banco BAC San José. BAC Credomatic has presence all over Central America, as well as in Cayman Islands and The Bahamas, and credit card business in Mexico.

Cayman Islands British Overseas Territory in the Caribbean

The Cayman Islands is an autonomous British Overseas Territory in the western Caribbean Sea. The 264-square-kilometre (102-square-mile) territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the south of Cuba and northeast of Honduras, between Jamaica and Mexico's Yucatán Peninsula. As of spring 2018, the population of the Cayman Islands was estimated to be 64,420 making it the second-most populated British overseas territory after Bermuda. The capital city is George Town, situated on Grand Cayman, by far the most populous of the three islands.

The Bahamas Country in North America

The Bahamas, known officially as the Commonwealth of The Bahamas, is a country within the Lucayan Archipelago, in the West Indies. The archipelagic state consists of more than 700 islands, cays, and islets in the Atlantic Ocean, and is located north of Cuba and Hispaniola Island, northwest of the Turks and Caicos Islands, southeast of the U.S. state of Florida, and east of the Florida Keys. The capital is Nassau on the island of New Providence. The Royal Bahamas Defence Force describes The Bahamas' territory as encompassing 470,000 km2 (180,000 sq mi) of ocean space.

Mexico Country in the southern portion of North America

Mexico, officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatemala, Belize, and the Caribbean Sea; and to the east by the Gulf of Mexico. Covering almost 2,000,000 square kilometers (770,000 sq mi), the nation is the fifth largest country in the Americas by total area and the 13th largest independent state in the world. With an estimated population of over 129 million people, Mexico is the tenth most populous country and the most populous Spanish-speaking country in the world, while being the second most populous nation in Latin America after Brazil. Mexico is a federation comprising 31 states plus Mexico City (CDMX), which is the capital city and its most populous city. Other metropolises in the country include Guadalajara, Monterrey, Puebla, Toluca, Tijuana, and León.

In 2004 The Group started its credit card operations in Mexico.

In December 2010, Grupo Aval completed the purchase of the BAC Credomatic banking group. [1] [2]

In 2016, Credomatic de México S.A. de C.V., a subsidiary of BAC International Inc., signed a contract to transfer to Banco Invex S.A. its Mexican credit cards business [3]

In 2017 the group started to use BAC Credomatic as brand for all their bank and credit card services, using a new modern logo.

See also

Grupo Aval Acciones y Valores

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References

  1. ↑ Acerca del BAC Archived July 24, 2008, at the Wayback Machine
  2. ↑ Analysts weigh Banco de Bogota financing options to acquire BAC
  3. ↑ "Banco de Bogota" (PDF). www.bancodebogota.com/. Retrieved 26 January 2018.
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